PPL (NYSE:PPL) Posts Earnings Results, Hits Estimates

PPL (NYSE:PPL) released its quarterly earnings data on Friday. The utilities provider reported $0.42 EPS for the quarter, meeting analysts’ consensus estimates of $0.42, Briefing.com reports. The business had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.10 billion. PPL had a return on equity of 9.20% and a net margin of 9.95%. The business’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.43 EPS. PPL updated its FY24 guidance to $1.67-1.73 EPS and its FY 2024 guidance to 1.670-1.730 EPS.

PPL Stock Performance

Shares of PPL stock opened at $32.06 on Tuesday. The stock’s 50-day moving average price is $32.33 and its 200 day moving average price is $30.10. The company has a quick ratio of 1.07, a current ratio of 1.29 and a debt-to-equity ratio of 1.17. The stock has a market capitalization of $23.65 billion, a PE ratio of 28.63, a price-to-earnings-growth ratio of 2.70 and a beta of 0.81. PPL has a 52-week low of $24.93 and a 52-week high of $33.38.

PPL Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 10th were issued a dividend of $0.2575 per share. This represents a $1.03 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date was Tuesday, September 10th. PPL’s dividend payout ratio is currently 91.97%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on PPL shares. Jefferies Financial Group began coverage on shares of PPL in a research note on Thursday, September 19th. They issued a “buy” rating and a $38.00 price target on the stock. Morgan Stanley increased their target price on shares of PPL from $31.00 to $33.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Wells Fargo & Company boosted their price target on shares of PPL from $35.00 to $37.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Bank of America upped their price objective on shares of PPL from $34.00 to $35.00 and gave the company a “buy” rating in a research note on Monday. Finally, Barclays lifted their target price on PPL from $30.00 to $34.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, PPL currently has an average rating of “Moderate Buy” and an average price target of $35.50.

PPL Company Profile

PPL Corporation, an energy company, focuses on providing electricity and natural gas to approximately 3.6 million customers in the United States. It operates through three segments: Kentucky Regulated, Pennsylvania Regulated, and Rhode Island Regulated. The company delivers electricity to customers in Pennsylvania, Kentucky, Virginia, and Rhode Island; delivers natural gas to customers in Kentucky and Rhode Island; and generates electricity from power plants in Kentucky.